Why settle for good culture when you can have great culture?
Your company is growing, and you’re reaching revenue goals but how are the people behind that success? How is the culture?
We’ve said it before and we’ll say it again. The longevity and success of a company relies on its people. While the work may be difficult, the culture shouldn’t add to the stress of the work. On the contrary, the culture should be designed to alleviate work-related stress.
Better moods equal better performance and hostile or even boring work environments are not sustainable. This is why great company culture is an organisation's unseen competitive advantage.
What is culture?
Your company’s culture is essentially its core values, traditions, attitudes, behaviours and beliefs shared within the workforce. It can attract or repel talent, as it impacts employee happiness, job satisfaction and overall performance levels.
Why is it more important than ever?
A recent study conducted by the MIT Sloan Management Review found that respect is by far the biggest single factor indicating whether employees are happy at work.
The study analysed over a million reviews written by employees about their employers and discovered that companies, where workers feel respected, are far more likely to have a great company culture.
Company culture has taken on a whole new meaning since the pandemic with the rise of The Great Resignation. Reports of employees leaving in droves, driven by the events of the past 18 months to find better work-life balance, fresh opportunities and follow new career paths have motivated managers to re-think company culture and do things differently.
Do I have a company culture?
Even if you know it or not, culture is entrenched within your organisation and is not something that can be overlooked. Culture is present anytime there’s a collective group of people which is really - every aspect of your business:
When you share ideas
How you deal with conflict
How you deal with your customers
How your employees engage with your business
It even shows up in the lunch room and in hallway conversations
The big question is, is the culture you have the one you want?
The difference between having good company culture and a great one is the gap between these two questions.
And, while it’s easy to define the term “great culture”, the hard work is actually applying it and achieving it.
The six elements of culture that matter the most to employees
Respect: Employees are treated with consideration, courtesy and dignity and their perspectives are taken seriously.
Supportive Leaders: Leaders help employees do their work, respond to requests, accommodate each individual needs, offer encouragement and above all have their back.
Community: Celebrating company milestones and achievements (even the small ones), celebrating special events, sharing profits and treating layoffs as a last resort.
Fairness: Humans place a high value on fairness. Companies where employees feel like everyone is getting a fair opportunity consistently report more positive employee experiences.
Innovation: Where managers create a safe environment to express ideas and make suggestions. This inspires employee loyalty, confidence and willingness to give extra.
Trust: Companies who let their employees work from anywhere and flexible hours mean employees feel trusted to meet their business goals in a way that works for their life.
If there’s more competition in your industry and you are looking for a way to stand out and outperform your competitors, fostering great company culture is the way to go.
Enjoy the read? We’re passionate about helping businesses achieve their potential and hope you found this article useful.
If you would like to know how we can help you create a positive and healthy culture get in touch today.